Stelac Advisory Services LLC Purchases 5,719 Shares of Gladstone Land Corporation (LAND)
Stelac Advisory Services LLC grew its position in shares of Gladstone Land Corporation (NASDAQ:LAND) by 48.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,568 shares of the real estate investment trust’s stock after purchasing an additional 5,719 shares during the quarter. Stelac Advisory Services LLC owned approximately 0.13% of Gladstone Land Corporation worth $239,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in LAND. Renaissance Technologies LLC boosted its holdings in Gladstone Land Corporation by 18.3% during the 1st quarter. Renaissance Technologies LLC now owns 445,700 shares of the real estate investment trust’s stock valued at $4,947,000 after acquiring an additional 68,800 shares during the period. Vanguard Group Inc. lifted its holdings in Gladstone Land Corporation by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 309,464 shares of the real estate investment trust’s stock worth $3,612,000 after buying an additional 7,356 shares during the period. Foster & Motley Inc. lifted its holdings in Gladstone Land Corporation by 6.9% in the 2nd quarter. Foster & Motley Inc. now owns 223,510 shares of the real estate investment trust’s stock worth $2,608,000 after buying an additional 14,507 shares during the period. Northern Trust Corp lifted its holdings in Gladstone Land Corporation by 16.8% in the 2nd quarter. Northern Trust Corp now owns 53,439 shares of the real estate investment trust’s stock worth $624,000 after buying an additional 7,673 shares during the period. Finally, Shufro Rose & Co. LLC lifted its holdings in Gladstone Land Corporation by 38.3% in the 2nd quarter. Shufro Rose & Co. LLC now owns 48,000 shares of the real estate investment trust’s stock worth $560,000 after buying an additional 13,300 shares during the period. Hedge funds and other institutional investors own 22.81% of the company’s stock.
Several equities research analysts have weighed in on the company. Zacks Investment Research cut Gladstone Land Corporation from a “hold” rating to a “sell” rating in a report on Tuesday. Ladenburg Thalmann Financial Services reiterated a “buy” rating and issued a $14.00 price objective (up previously from $13.00) on shares of Gladstone Land Corporation in a report on Monday, September 18th. They noted that the move was a valuation call. Finally, Hilliard Lyons cut Gladstone Land Corporation from a “buy” rating to a “neutral” rating in a report on Wednesday, November 8th.
Gladstone Land Corporation (NASDAQ:LAND) traded up $0.12 during midday trading on Wednesday, reaching $13.50. The company’s stock had a trading volume of 37,300 shares, compared to its average volume of 63,481. Gladstone Land Corporation has a 1-year low of $10.35 and a 1-year high of $14.29. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 2.48. The stock has a market cap of $182.48, a PE ratio of 24.11 and a beta of 0.98.
The firm also recently disclosed a monthly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Monday, November 20th will be issued a $0.0441 dividend. This represents a $0.53 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend is Friday, November 17th. Gladstone Land Corporation’s dividend payout ratio (DPR) is currently 1,767.26%.
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About Gladstone Land Corporation
Gladstone Land Corporation is an agricultural real estate investment trust (REIT). The Company is engaged in the business of owning and leasing farmland. The Company also owns various farm-related facilities, such as cooling facilities, buildings utilized for the storage and assembly of boxes for shipping produce (box barns), packinghouses, processing facilities and various storage facilities.
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